Admiral Group PLC : Extension of UK Reinsurance...

Admiral Group has extended its existing UK Car Insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re to at least the end of 2016.  There has been no material change to the cost or contractual terms of these arrangements.

The extended reinsurance arrangements are in addition to the current agreement with Munich Re (covering 40% of the UK business), which runs to at least the end of 2018. 

Share of UK Car Insurance underwriting:

	2014	2015	2016
Admiral	25.00%	25.00%	25.00%
Munich Re	40.00%	40.00%	40.00%
New Re	13.25%	12.25%	12.25%
Swiss Re	9.00%	9.00%	9.00%
Hannover Re	8.75%	8.75%	8.75%
Mapfre Re	4.00%	5.00%	5.00%
Total	100.00%	100.00%	100.00%

Chief Executive Officer, Henry Engelhardt, said: "We are very pleased to announce extensions to our long-standing reinsurance arrangements.  These agreements show our partners' continued confidence in our business and we look forward to working with them for many years to come."

For further information, please contact:

Admiral
Louise O'Shea         [phone]
Louisa Scadden       [phone]

FTI Consulting
Paul Marriott            [phone]
Ed Berry                  [phone]

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Source: Admiral Group PLC via Globenewswire

HUG#1760904